Newgate Technology acquired by Athera Healthcare

Newgate Technology, a software development and IT consultancy which specialises in healthcare systems solutions, has been sold in a transaction advised on by KBS Corporate.

Founded in 1988 by Bob Watson and based in Inverkeithing, Fife, Newgate provides software to assist with hospital department management and efficiency improvements, working across the NHS and the private healthcare sector in the UK and Ireland.

Newgate’s support extends to specialist software to help track and trace surgical instruments, and incorporates a wide range of digital clinical management tools which are used extensively across critical departments within acute care.

To facilitate Bob Watson’s retirement plans, the company was sold, in a deal led by Will Griffiths, KBS Corporate Transaction Adviser, to the Athera Healthcare Group, which is backed by private equity fund Aliter Capital.

Athera’s existing offering includes Athera Insights, a health data analytics platform, and Athera FingerPrint, a traceability and inventory management solution.

KBS was also involved in Athera’s previous acquisition of FingerPrint, a transaction which, like the sale of Newgate, was made possible due to investment from funds managed by Aliter Capital – which applies a strategy of acquiring and integrating smaller businesses to create sophisticated, professional medium-sized operators within fragmented markets.

“We are delighted to join forces with Athera Healthcare,” said Adam Watson, Managing Director of Newgate Technology. “Their passion and dedication for continued digital and data-based innovation within healthcare matches our own. This partnership marks an exciting new chapter for both of us.”

Greig Brown, a founding partner of Aliter Capital, commented: “The acquisition of Newgate Technology supports Aliter’s strategy of developing a scaled UK provider of healthcare technology solutions, and we are excited to work with Athera in the next phase of its development.”

Will Griffiths of KBS was “very happy with the outcome”.

“Newgate and its staff will prosper under Athera’s ownership and Bob Watson was a pleasure to work with,” he said.